Wells Fargo & Company Raises Eaton (NYSE:ETN) Price Target to $360.00

Eaton (NYSE:ETN - Get Free Report) had its price target upped by equities researchers at Wells Fargo & Company from $310.00 to $360.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's price objective suggests a potential upside of 1.35% from the stock's current price.

ETN has been the subject of several other reports. BNP Paribas assumed coverage on shares of Eaton in a research report on Thursday, May 15th. They issued an "outperform" rating and a $380.00 price objective for the company. KeyCorp raised their price target on shares of Eaton from $325.00 to $355.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wall Street Zen raised shares of Eaton from a "hold" rating to a "buy" rating in a report on Sunday, May 18th. Evercore ISI raised their target price on Eaton from $326.00 to $349.00 and gave the stock an "in-line" rating in a research note on Monday, May 19th. Finally, Royal Bank Of Canada lifted their price target on Eaton from $336.00 to $356.00 and gave the stock an "outperform" rating in a research report on Monday, May 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $369.06.

Eaton Stock Down 0.5%

NYSE ETN traded down $1.77 on Tuesday, hitting $355.22. The stock had a trading volume of 2,407,824 shares, compared to its average volume of 2,662,478. The business's fifty day moving average price is $319.99 and its 200 day moving average price is $312.18. The stock has a market cap of $139.00 billion, a price-to-earnings ratio of 35.84, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.31 and a quick ratio of 0.84. Eaton has a 52-week low of $231.85 and a 52-week high of $379.99.

Eaton (NYSE:ETN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts' consensus estimates of $2.70 by $0.02. Eaton had a return on equity of 23.41% and a net margin of 15.55%. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter last year, the firm earned $2.40 EPS. The business's quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Eaton will post 12.02 earnings per share for the current year.

Insider Buying and Selling

In other Eaton news, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total value of $629,364.40. Following the completion of the transaction, the insider owned 3,382 shares of the company's stock, valued at approximately $1,004,014.34. The trade was a 38.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Craig Arnold sold 103,486 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the sale, the insider owned 490,208 shares in the company, valued at $158,214,632. This trade represents a 17.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,660 shares of company stock worth $49,622,894 in the last ninety days. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Eaton

A number of hedge funds have recently bought and sold shares of the business. IMA Advisory Services Inc. purchased a new stake in Eaton in the 1st quarter worth $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV raised its position in shares of Eaton by 102.0% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company's stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in Eaton in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 82.97% of the company's stock.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.